Selangor Journal
Sultan of Selangor Sultan Sharafuddin Idris Shah Alhaj inspects a guard of honour during the opening of the first meeting of the sixth term of the 14th Selangor Legislative Assembly sitting, Shah Alam, on March 13, 2023. — Picture by REMY ARIFIN/SELANGORKINI

Selangor’s robust economic growth anticipated to woo more investors — Selangor Sultan

By Ida Nadirah Ibrahim

SHAH ALAM, March 13 — Selangor’s economic growth is expected to attract more investors in exploring the state’s potential as its economy grew at 5 per cent in 2021, exceeding the national gross domestic product (GDP) of 3.1 per cent.

Sultan of Selangor Sultan Sharafuddin Idris Shah Alhaj expressed his appreciation for the state’s financial performance, noting that the state continues to be the largest contributor to the country’s GDP at 24.8 per cent while recording the highest revenue collection in six years.

“The state revenue collection in 2022 has recorded a figure of RM2.533 billion, exceeding the initial target of RM 2.05 billion, and higher than the figure recorded in 2021 of RM2.284 billion.

“The state’s current economic performance is expected to attract more investors to explore the potential in the state. The state administration must always act as a facilitator to pique their interest in making investments in Selangor,” said the Selangor Ruler in his royal address during the opening of the first meeting of the sixth term of the 14th Selangor State Legislative Assembly sitting, here today.

From January to September 2022, Selangor recorded RM9.70 billion in investments with 199 approved manufacturing projects.

His Royal Highness expressed his appreciation to the state administration under the leadership of Menteri Besar Dato’ Seri Amirudin Shari, who steered the state with the spirit of “Kita Selangor” in the face of health, economic and political crises, and hoped that the efforts would continue in the future for the well-being of the people of Selangor.

He said that Amirudin’s visionary leadership in formulating the state’s five-year blueprint, the First Selangor Plan (RS-1), has propelled Selangor’s economic growth and ensured that the state remains an economic powerhouse in Malaysia and Asia.

“The RS-1 emphasises on implementation of high-impact strategies for the short and medium term through efficient and effective governance by providing a conducive ecosystem.

“I would like to thank the state administration and the Selangor Menteri Besar for the various efforts and initiatives to develop and boost the state’s economy after the Covid-19 pandemic.

“Alhamdulillah (Thank God), the lives of the people of Selangor have nearly returned to normal in the transition to endemic phase,” he said.

His Royal Highness cited several state initiatives which had boosted the state’s economic growth, such as the Integrated Development Region in South Selangor (Idriss), Selangor Maritime Gateway Economic Development Zone(ZPE SMG), Sabak Bernam Development Area (Sabda), encouraging the opening of new industrial areas based on Managed Industrial Park (MIP) concept, Selangor International Business Summit (SIBS) and Selangor Aviation Show (SAS).

Meanwhile, the Selangor Ruler also hoped the construction of the Shah Alam Sports Complex (KSSA) can be completed efficiently and transparently, according to schedule, cost and quality for the benefit of the people.

“I am confident that the KSSA can be a catalyst for a new era of glory for the Selangor football team and become a symbol of pride for the people of Selangor,” said Sultan Sharafuddin.

The Selangor State Legislative Assembly sitting, which will be the last before the expected Selangor state elections this year, is scheduled to run until March 24.

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